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Thursday, March 26, 2015

Debra Eliason writes, ""I tell my students at the beginning of all my classes that everything I teach has real-world application," says Chris Silver."

Chris Silver, business and computer teacher at River Falls High School,
says making kids financially literate is extremely important and can
save them from a lifetime of debt.” (River Falls Journal photos by Deb
Eliason)

Silver is business and computer teacher at River Falls High School. In
his real world, teachings students how to handle money is extremely
important.

Why? Because Silver sees a worrisome trend concerning young adults and debt.

Statistics tell the story:

According
to Rent.com, more than 75% of renters between the ages of 18 and 24
spend more than they earn every month. And more than 20% of those
overspent by $100 every month.

A study from Ohio State
University found that young adults are racking up credit card debt at a
faster rate than other age group and they’re slower to pay it off.

Silver is trying to reverse those trends by including personal finance course work in various classes.

“We
want to make sure all students get this,” he said. “Ideally every
student would get it in some class. But it is a challenge to make sure
they do.”

One way Silver teaches personal finance is with a program called
Banzai. It’s online and Silver says the program “creates” an entry level
job for students and the expenses they must pay throughout the month.

The Banzai program also includes some unexpected expenses -- just like real life.

For example, the student gets to buy an $80 ticket to a concert but gets hurt at the concert and incurs medical bills.

Says
Silver: “Students are often surprised at how much they overspend during
the first Banzai round.

They are challenged by reconciling daily living
expenses with an entry-level wage.“They underestimate costs,
especially the cost of fast food and eating out. Then we do it a few
more times and they do a better job.”Read more... Source: River Falls Journal

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Hello, my name is Helge Scherlund and I am the Education Editor and Online Educator of this personal weblog and the founder of eLearning • Computer-Mediated Communication Center.
I have an education in the teaching adults and adult learning from Roskilde University, with Computer-Mediated Communication (CMC) and Human Resource Development (HRD) as specially studied subjects. I am the author of several articles and publications about the use of decision support tools, e-learning and computer-mediated communication. I am a member of The Danish Mathematical Society (DMF), The Danish Society for Theoretical Statistics (DSTS) and an individual member of the European Mathematical Society (EMS). Note: Comments published here are purely my own and do not reflect those of my current or future employers or other organizations.